SOURCES OF MULTI-ACADEMY TRUST FUNDING
Here we discuss the sources of multi-academy trust funding. Multi-academy trusts (MATs) in the United Kingdom receive their funding from several sources, including:
1. The Department for Education (DfE): MATs receive funding from the DfE through the Education and Skills Funding Agency (ESFA). This includes the core funding that covers the day-to-day running costs of the academies within the trust, such as staffing, premises, and equipment.
2. Pupil premium: This is additional funding that is provided to schools to support disadvantaged pupils and close the attainment gap. MATs receive pupil premium funding for the eligible pupils attending their academies.
3. Grants and other funding sources: MATs may receive additional funding from grants or other funding sources to support specific projects or initiatives, such as capital projects, research and development, or partnerships with other organisations.
4. Fundraising: Some MATs may engage in fundraising activities, such as seeking donations from individuals or businesses, to support specific initiatives or projects.
It is worth noting that while MATs receive funding from the DfE, they are still required to operate within a tight financial framework, and are expected to manage their finances prudently and effectively to ensure the best possible outcomes for their pupils. MATs are also expected to publish annual accounts and financial reports to ensure transparency and accountability. The funding process is led and managed by the Trust’s Finance Director with involvement of the Trust’s finance committee.